FTSE CLOSE: Interserve agrees rescue deal to slash debt mountain; Housebuilder Barratt shrugs off Brexit pressures; Crackdown on hotel booking sites
- Barratt said half year profits and sales increased thanks in part to Help to Buy
- Outsourcer Interserve has agreed a debt for equity swap with its lenders
- The competition watchdog has cracked down on ‘misleading’ booking sites
Barratt Developments, the country’s largest housebuilder, has revealed a rise in half-year sales and profits as it continues to shrug off the Brexit pressures hitting the wider property market.
Outsourcing giant Interserve has agreed a debt for equity swap with its lenders as part of plans to cut its near-£650million debt mountain.
And hotel booking sites like Expedia, Booking.com, Hotels.com and trivago will be forced to change the way they operate, following a probe by the competition watchdog.
The FTSE 100 has taken a dip into the red in early trading, down 0.3 per cent at 7,160.13